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Avalanche price analysis: AVAX/USD set to break below the daily support

Avalanche price analysis
TL;DR Breakdown
  • Avalanche price analysis is bearish today.
  • The prices have support at $29.0.
  • Selling pressure is very high at the moment.

Avalanche price analysis indicates AVAX closed the week in a bearish trend and is now trading around $30.The prices have declined by 15.08 percent in the last 24 hours and are likely to plummet further. The digital currency has been on a downtrend for the entire week and today it hit the lowest point of $30.04. The market capitalization of the coin has also decreased significantly and is now placed at $4.62 billion.

The digital currency started to decline alongside other digital assets following the current market crash. The prices soon started declining and reached the lows of $30 today. The selling pressure is very high at the moment as the market conditions are not favorable. The prices might decline further in the next few days and reach the support level of $29.0. The digital currency has lost a lot of value in the last few weeks and is currently trading at new lows.

image 241Cryptocurrencies prices heatmap, source: Coin360

AVAX/USD 1-day chart price analysis:AVAX to remain under pressure

Avalanche price analysis shows that the digital currency is likely to remain under pressure in the next few days as the market conditions are not favorable. The prices have already reached the support level of $29 and might decline further to reach new lows. The digital currency has lost a lot of value in the last few weeks and is currently trading at new lows.

image 239

AVAX/USD 1-day price chart, source: TradingView

Avalanche market volatility is extremely high with the upper band of the Bollinger bands touching the $33.0 level and the lower band at $29.5.The prices are likely to remain volatile in the next few days as the market conditions are not favorable.

The digital currency is currently trading below all the major moving averages on the 1-day chart which is a bearish sign. The prices might decline further in the next few days and might test the support levels of $29.0 and $28.0.valanche price analysis: AVAX to remain under pressure

AVAX/USD 4-hour price analysis: Prices nosedive to new lows

Avalanche price analysis shows a bearish trend on the 4-hour chart. The prices have broken below the $32 support level and are now trading at new lows. The Bollinger bands are also showing high volatility in the market and are currently placed at $31.5 and $29.5.The RSI line is set to enter the oversold region as it is currently placed at 26.89. The MACD indicator is also placed in the bearish territory and is indicating further losses for the prices.

valanche price analysis:

The digital currency is currently trading below all the major moving averages on the 4-hour chart which is a bearish sign. The prices might decline further in the next few days and might test the support levels of $29.0 and $28.0.valanche market update:

image 240

AVAX/USD 4-hour price chart, source: TradingView

The digital currency started to decline following the market crash and soon reached the lows of $30.04. The selling pressure is very high at the moment as the market conditions are not favorable. The prices might decline further in the next few days and reach the support levels of $29.0 and $28.0.

Avalanche price analysis conclusion

Avalanche price analysis shows that the prices are on a downward trend and are likely to decline further in the next few days. The digital currency has lost a lot of value in the last few weeks and is currently trading at new lows. The selling pressure is very high at the moment and the prices might test the support levels of $29.0 and $28.0 in the next few days. The market conditions are not favorable for the digital currency and it is likely to remain volatile in the next few days.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
William Suberg

William Suberg

William Suberg is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. William is a lover of sports.

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